Union Bank of India Annuncess Excellent Results
by Najuka G The Board of Directors of Union Bank of India approved the accounts of the Bank for the quarter and half year ended September 30, 2018. Key Highlights of the Quarter : Net Profit `139 crore Provision Coverage Ratio 57.66 % Cash Recovery 149.6 % YoY Domestic Gross Advances 9.0 % YoY Net Interest Margin 2.18% Saving Deposits 10.1 % YoY Business: Global Business grew by 3.1 per cent to `717656 crore as on September 30, 2018 from `695978 crore as on September 30, 2017. Domestic business grew by 6.5 per cent to `698892 crore as on September 30, 2018 from `656046 crore as on September 30, 2017. Total deposit of the bank grew from `386025 crore as on September 30, 2017 to `399092 crore as on September 30, 2018 showing growth of 3.4 per cent. Saving deposits grew by 10.1 per cent to `118424 crore as on September 30, 2018 from `107522 crore as on September 30, 2017. The Bank’s Global Advances grew by 2.8 per cent to `3